Daily FiZ- Thursday 08/04

Story of the Day:

At the EGM of ZCCM-IH held virtually on Tuesday, 30 March 2021 and hosted in Lusaka, Zambia, shareholders of ZCCM-IH (“Shareholders”) considered the resolution proposed at the EGM as set out below: Read more 

Local Business and Finance Sponsored By Liquid Telecom

Zambia’s private sector pulse rallied to a 2-year high after headlining 49.7 in March, 2.6 points higher than February’s 47.1 but was 0.3 points shy of the 50 mark. Read more: The Business Telegraph 

Zambia’s largest indigenous bank by asset size and profitability, Zanaco Plc, has defied the odds and redefined banking overnight by being a debut partner bank on Digital PayGo shared agent banking platform. Read more: The Business Telegraph 

Zambia Revenue Authority (ZRA) has recorded an increase in revenue collection of K238 million in the first quarter of 2021 at Nakonde-Tunduma One Stop Border Post. Read more: Zambia Daily Mail 

Government in partnership with the Zambia Tourism Agency (ZTA) and Smart Zambia Institute has launched the e-platform on licensing and grading of tourism establishments in Zambia aimed at easing ways of doing businesses. Read more: ZNBC

International Business and Finance

The head of the World Bank has warned world leaders against setting a global minimum tax rate for companies that is too high. In an interview with the BBC, David Malpass said he did not want to see new rules that would hinder poor countries’ ability to attract investment. Read more: BBC News 

Samsung expects to have pulled off a strong first quarter, even as one of its chipmaking facilities was temporarily shut by a brutal US winter storm earlier this year. The South Korean conglomerate said Wednesday that it likely made about 9.3 trillion Korean won ($8.3 billion) in operating profit from January to March, marking a 44% jump compared to the same period last year. Read more: CNN

Heads of multilateral development finance institutions have called for expansion of the debt service suspension initiative under which low-income countries have suspended debt repayment during the coronavirus era to offer relief. Read more: Zambia Daily Mail

Uber’s long-term partnership with Mastercard continues to grow with a new strategic initiative focusing on digital payments and advancing financial inclusions, which will be facilitated by Mastercard across the Middle East and Africa (MEA). Read more: Business Insider

Capital Markets Report Sponsored By ZCCM-IH 

In 13 trades recorded yesterday, 12,802 shares were transacted resulting in a turnover of K15,690. A share price gain of K0.01 was recorded in Lafarge. Trading activity was also recorded in Copperbelt Energy Corporation and Zanaco. The LuSE All Share Index (LASI) closed at 4,021.53 points, 0.01% up from its previous close of 4,021.07 points. The market closed on a capitalization of K57,840,838,379 including Shoprite Holdings and K23,596,197,605 excluding Shoprite Holdings.

Chart of the Day:

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For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

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